Joe,
Try mounting your compass in a companionway board specifically made for the  
compass - you may find you don't need to have it "permanently installed in a  
3+-" hole thru the bulkhead of your boat. 
If you do make frequent use of it mount it in the bulkhead and go  sailing.
Many folks use them in drop boards and are happy.
Good luck - Enjoy your new boat - Have Fun.
Gary O.
M-17 #316a 
Air Powered
 
(Mine personally is on the mast (sometimes))
 
“I don't make  jokes. I just watch the government and report the facts.”
-- Will  Rogers
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